We reached out to the company but they declined to comment at this time.

Washington Business Journal says that the cuts are expected to come across a wide range of positions and markets, including its home base in D.C. LivingSocial maintains six offices in the nations capital.

The layoffs could be affected by LivingSocial net loss of $566 million in the third quarter. $496 million of that loss stems from a massive writedown of some of its acquisitions from 2011, the Washington Business Journal says. LivingSocial's revenue fell to $124 million in the three-month period, down from $138 million in the second quarter.